Flour & Co is a bespoke bakery with a renowned reputation for offering a complete service to meet their clients’ wedding needs. Mr Flour designs their entire wedding cake and has built up a reputation over the past 20 years because of his designs and creativity.
After recent discussions, the shareholders have realised that their business relies heavily on the reputation of Mr Flour’s design. If he were to become critically ill or die during the length of policy, their business could suffer and they could potentially lose up to 70% of their profits. In addition, they may have to recruit and retrain a replacement, which could take at least three years.
They decide to take out a Key Person Protection Plan, which would provide the funds to deal with these problems should anything happen to Mr Flour.
The loss of an integral employee or director could seriously damage your business. If the unthinkable were to happen to one of these people, would you be prepared? How would you cover the loss of profits, and pay for the cost of hiring and training a replacement?
We all know when it comes to business it is far better to be proactive than reactive. Cover starts from as little as £2.55 a week, get your free, no obligation quote and join business’ across the country protecting their future today by clicking below…